Venezuela may finally get a threat from the US it has been using as an excuse for its incompetence

As the crisis in the South American country deepens, the U.S. president suggested getting involved: “We have many options for Venezuela, including a possible military option, if necessary.”

I think the chances of such an option are remote at this point. But, I suspect the threat probably has more to do with getting the attention of the ruling junta that their march away from democracy will continue to have a price.

The best way to deal with these guys on the economic front is a change in the US refinery capacity. It is too focused on heavy crude at this point, like that exported by Venezuela. If the were to move toward refining light crude, they would have all they could handle from US shale wells and then they could put enormous pressure on Venezuela. It would also be cheaper than a military operation.

Exxon has recently taken steps to covert some of its refining capacity to light crude. If the other majors dis so, it would probably leave Venezuelan owned Citgo as their only US outlet which would make an embargo more painless for the US.

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